(This Aug. 7 story has been corrected to fix the reason for the termination of the deal in paragraph 1)
(Reuters) – Savannah Energy said on Wednesday it has terminated the planned $1.25 billion purchase of Malaysia’s state energy firm Petronas’ oil and gas business in South Sudan, as the parties could not close the deal on the originally envisaged terms.
“Savannah remains in active discussions with the relevant parties around an alternative potential transaction in relation to an acquisition of the Petronas assets” it said in a statement.
(Reporting by Yadarisa Shabong in Bengaluru; Editing by Shailesh Kuber)
